Shares of American Equity Investment Life Holding Company (NYSE: AEL) experienced a significant surge in premarket trading, rising over 10%. The boost came after the company confirmed receiving a takeover proposal from Brookfield Reinsurance Ltd. (NYSE: BNRE). 

The proposal suggests acquiring all outstanding shares of American Equity that Brookfield Reinsurance does not already own. The transaction, valued at $4.3 billion, would consist of a cash-and-stock deal. The offer includes $38.85 per share in cash and $16.15 per share in Brookfield Asset Management Ltd. Class A limited voting shares.

American Equity has stated that its Board will conduct a thorough evaluation of Brookfield Reinsurance's proposal, considering their fiduciary duties and seeking guidance from independent financial and legal advisors.

In response to the news, $AEL is trading at $51.30 in pre-market, reflecting an increase of $6.20 (+13.75%).

In other news, Delta Air Lines, Inc. (NYSE: DAL) also experienced higher trading in premarket as the company raised its fiscal-year 2023 EPS outlook.

The revised outlook positions Delta's FY23 Earnings Per Share (EPS) at the higher end of the previous guidance range of $5-$6, exceeding the consensus estimates of $5.81. Furthermore, the company reiterated its FY24 EPS outlook, projecting a figure over $7, surpassing the consensus estimate of $6.93 for the period.

In pre-market trading, $DAL was trading at $43.40, up $0.26 (+0.60%).

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